THE RISE AND DECLINE OF SEARS CANADA
1952 — Simpsons-Sears is founded as a national mail-order business, as part of a partnership between the Robert Simpson Company of Toronto and Sears Roebuck Co. of Chicago. Sept. 1953 — Simpsons-Sears opens its first store in Stratford, Ont. 1973 — The company opens its first store under the “Sears” banner. 1978 — Hudson’s Bay Company acquires the Simpson Company. The Simpsons-Sears partnership is dissolved. 1984 — The company formally changes its name to Sears Canada. 1995 — Sears opens its first Sears Whole Home furniture store; later renames the store Sears Home.
1998 — The company launches its e-commerce website, becoming one of the first retailers to do so in Canada. 1999 — Sears buys the bankrupt chain, The T. Eaton Company Ltd., including all of the flagship department stores in coveted locations such as the Toronto Eaton Centre.
Feb. 2009 — Sears cuts 300 jobs, less than one per cent of its workforce at the time, to prepare for a “tough” year in retail.
June 2011 — Calvin McDonald named president and CEO of Sears Canada and embarks on a three-year turnaround plan as sales decline and thousands of jobs are cut. 2012 — Sears begins selling off leases to its stores in prime locations. Sept. 2013 — McDonald abruptly steps down
as president and CEO in the midst of the plan. Sept. 2013 — Former U.S. naval aviator and retail consultant Douglas C. Campbell takes over as CEO. May 2014 — U.S. parent company Sears Holdings Corp. hints that it’s looking to sell the ailing retailer. Sept. 2014 — Campbell steps down as CEO, citing family matters. Oct. 2014 — Ronald Boire steps in as interim CEO.
Aug. 2015 — Boire steps down as CEO. July 2015 — Brandon Stranzl is named executive chairman of Sears Canada. Stranzl has ties to the U.S. hedge fund run by Edward Lampert, which then controlled about 45 per cent of the Canadian company’s shares. July 2016 — Sears Canada president Carrie Kirkman leaves after less than a year in the position. Aug. 2016 — Sears Canada rebrands logo for the first time in 32 years by adding maple leaf. Jan. 2017 — New Brunswick government gives Sears Canada $3.5 million to open a business centre in the province. The move is expected to create 180 new jobs. Apr. 2017 — Sears Canada announces plans to give space to a partner grocer at three to five of its locations for groceries. June 2017 — The company announces it is exploring strategic alternatives including, selling itself, as it continues to face a worsening cash crunch.